The central bank noted that FEDAI had applied under the Omnibus Framework for Recognition of Self-Regulatory Organizations (SROs) for regulated entities of the Reserve Bank for recognition as SROs.
“After examining the application and taking into account the fact that FEDAI has been functioning as an SRO under its rules governing the conduct of its members, it has been decided to recognize FEDAI as an SRO for all authorized dealers,” RBI said in a statement.
FEDAI has been given one year to align its operating and governance framework with the Omnibus SRO framework and take necessary steps to expand its membership to all categories of authorized dealers.
The association was established in 1958 as an association of banks dealing in foreign exchange in India (commonly referred to as Authorized Dealers – ADs) as a self-regulatory body and was incorporated under Section 25 of the Companies Act, 1956. Its main activities include framing rules for the conduct of interbank foreign exchange trading between banks towards the public and liaising with the RBI for reforms and development of the forex market.
Published on January 14, 2026
#RBI #recognizes #FEDAI #SRO